Global Contact Center Market 2018-2022
About Contact Center
A contact center acts as a central point in an enterprise from where all contacts are managed. It plays a prominent role in the broad customer management strategies of an enterprise.
Technavio’s analysts forecast the global contact center market to grow at a CAGR of 8.54 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global contact center market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of contact center solutions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Contact Center Market 2018-2022
Technavio recognizes the following companies as the key players in the global contact center market: Aspect, Cisco Systems, and Genesys.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Integration of chatbots for better turnaround times. In a contact center, an agent will have to request the caller to wait for some time so that he/she can retrieve the relevant data for resolving the issue. Even a slight delay in giving the response can make the caller look elsewhere to solve the problem. It can also force the customer to switch to a competitor. Hence, contact centers are trying to implement chatbots in their processes because, in the future, they must look for options other human agents to handle simple customer queries and provide better resolutions.”
According to the report, one of the major drivers for this market is Rising adoption of cloud-based contact centers. A cloud-based contact center is a software-as-a-service(SaaS) that is deployed, stored, and precisely designed for cloud solutions. Enterprises can use this service on subscription, where they are charged on a pay-as-you-go basis (they are charged by the vendors only for the service they have availed). Cloud based contact centers are flexible as they are able to quickly adapt to the changing business needs and can be integrated with third-party applications through open application programming interface (API) frameworks.
Further, the report states that one of the major factors hindering the growth of this market is Inability to achieve an ASA. The biggest challenge faced by inbound and blended contact centers is to achieve a predetermined average speed of answer (ASA). An ASA is the key performance indicator for contact centers, which helps managers in assessing their team’s performance and the efficiency of their callers. An ASA includes the amount of time a customer waits in the line and time the agent’s phone is ringing. However, it does not include the time taken for customers to navigate through IVR. Contact centers should use workforce management (WFM) solutions to manage their resources so that they can meet the desired ASA and service levels. Owing to the growing customer expectations for better services, this problem is a huge challenge for the vendors of contact center solutions.
Aspect, Cisco Systems, and Genesys.